House for sale • 460 m² without real estateAroser Allee 102 Berlin Reinickendorf Berlin 13407

Below is the English translation of the text:

The stable reinforced concrete structure, built in 1930 and subdivided in 1976, with a dry basement, raised ground floor, 1st floor, 2nd floor, and an expandable attic in the 3rd story, is a building constructed within a settlement concept and features nine residential units (all 2-room apartments). Ideally, the apartments have approximately 2.8-meter high ceilings. The attic space is significantly higher. The floor plan from the raised ground floor up to the 2nd floor is identical – on each floor there are 3 apartments, with the middle apartments being around 50m² and the apartments on the right and left each being slightly larger at approximately 55m². All rooms have separate access, making them ideal, for example, for use as shared living arrangements.

The hot water supply is provided by electric instantaneous water heaters.

During the modernization measures carried out in 2002, among other improvements, tiled bathrooms, modern fitted kitchens, laminate flooring, and cable television were installed in the apartments. In addition, with tenant changes over the past 10 years, renovations as needed were carried out, including installation of spotlights and/or replacement of floor coverings. One bathroom was converted into a modern shower room.

At that time, the main supply lines in the basement up to the riser columns were also renewed. Furthermore, an intercom system with doorbell is available.

In 2012, the loggias were converted back into balconies, which makes Aroser Allee 102 stand out in the entire area and eliminates the construction defect (bathroom window opening into the closed loggia leading to mold formation). In connection with this, new energy-efficient PVC windows with insulating glass were installed in all apartments.

In 2021, a brand new modern heating system was installed. In addition, multi-family houses are located immediately to the right and left of the building. This has resulted in tenants paying on average only about €1 per month per m² for warm operating costs despite the high gas prices, although the average in Berlin is rather around €1.5 per m².

The current annual net cold rent is approximately €90,000.

If you also acquire and expand the attic, the projected annual net cold rent is expected to be around €138,000.

As a subdivision retail transaction, you would certainly achieve a significantly higher sales price. The two floor plans in the advertisement are conceptual ideas, as you could sell connected apartments in individual sales, such as quasi 5- and/or 8-room apartments, which is nearly a unique selling proposition in Berlin and could therefore fetch particularly high sales prices.

If you hold the property for 5 to 10 years, doubling its value is not unlikely. Moreover, due to the rental income, it is a secure investment.

You can also quickly obtain liquid money from this property because the apartments are already subdivided and, for example, in the event of tenant terminations, instead of re-letting, the individual vacant apartment can be sold very well.

The well-maintained property has shared common areas (waste disposal area, right of way, etc.) with the neighbors Aroser Allee 104 and Zermatter Straße 5. There has been a notarial ideal division since 2013, so that each building can be managed independently and has its own usable garden space. Only the waste disposal area is shared.

The property is located on the border of Wedding/Reinickendorf and even the city center is reachable in a very short time. In addition, the Autobahn entrance A100 is only about 5 minutes away. By bicycle, you can reach the main train station in about 20 minutes. Furthermore, there is a lovely Schäfersee (shepherd’s lake) in the immediate vicinity. Also, the noise from the former Tegel Airport has been a thing of the past since 2021.

It can be assumed with relatively high certainty that this residential location will develop disproportionately better than other residential areas in Berlin.

Eight of the nine apartments come with a fitted kitchen. All apartments are equipped with laminate flooring. All nine bathrooms are fully tiled.

Some of the apartments have been newly renovated with tenant changes.

The built-up living area is approximately 466m², with a potential/undeveloped area of 140m² (attic space). The price is €1,950,000 for the 9 residential units and, after consultation and with an acceptable offer, you can acquire the attic space as well. The 9 apartments can also be purchased without the attic space; the reverse is not possible.

The attic is in good condition, so costs for expansion can be saved.

The basement, with a usable area of approximately 150m², is partly rented out at a higher rate than the residential area itself.

I am a private individual. Therefore, no commission is charged.

If you are interested, I will gladly provide you with the bank-relevant documents that have already been prepared.

You can reach me, for example, at my telephone number 0157 / 72711524 – feel free to also contact me via WhatsApp!